Larry E. Swedroe, vice chairman of Residential Services Corporation of America, has a long resume. But recently his knack for reducing his own income taxes has attracted attention.
The January issue of Money magazine, dubbed the "Tax-Axing Guide," profiles Mr. Swedroe's methods as a model of tax-saving strategy.
That tax-cutting savvy will enable him to retire this year, at age 44.
The magazine's two-page color spread shows Mr. Swedroe playing croquet in the backyard with his wife and three smiling daughters. In a brief article, Mr. Swedroe explains how clever investment strategies help him cut his taxes by 30%. Before the savings, Mr. Swedroe is in a 44% tax bracket.
A combination of tax-exempt municipal bonds, municipal bond mutual funds, and a plan to sell mutual funds at strategic times contribute to Mr. Swedroe's tax savings, the article says.
Mr. Swedroe has said he will retire from the industry after Residential Services - the holding company for Prudential Insurance Company of America's mortgage company - is sold. Prudential put the unit up for sale last March. A final agreement to sell the majority of the company to Norwest Mortgage is pending, according to sources close to the deal.
After he retires, the article said, Mr. Swedroe "plans to start taking advantage of home-office deductions, working part-time from home as a financial planner."